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Why the Soft Cyber Market is Your Best Opportunity with Zane Goldthorp

Why the Soft Cyber Market is Your Best Opportunity with Zane Goldthorp

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 In this first episode of a new multi-part Shoptalk series on the Power Producers Podcast, host David Carothers and co-host Kyle Houck are joined by Zane Goldthorp of ProWriters to kick off a deep dive into the cyber insurance market. Zane brings everyone up to speed on the recent acquisition of ProWriters by Victor, explaining how it will expand their product offerings into E&O and other specialty lines. The main focus of the conversation is a detailed breakdown of the current soft market in cyber. Zane explains the cyclical nature of the market—how the hard market of 2021-22 led to massive profits, which in turn attracted new capacity and drove prices down, creating the current buyer's market. Key Highlights: ProWriters Acquired by Victor Zane Goldthorp discusses the recent acquisition, assuring agents that ProWriters will continue to operate independently while leveraging Victor's resources to offer a broader suite of products. This partnership will allow agents to access E&O and other specialty coverages for contractors, manufacturers, and A&E firms, creating new cross-selling opportunities. The Cyber Market Rollercoaster Explained Zane provides a clear timeline of the recent dramatic shifts in the cyber market. He explains how the influx of inexperienced carriers pre-COVID led to massive losses during the pandemic, triggering the intensely hard market of 2021-22. He then details how the high profitability of that period attracted new entrants, causing the market to rapidly soften again throughout 2023 and into the present. Why Now is the Best Time to Buy Cyber The conversation centers on the current soft market, which Zane describes as a fantastic buyer's market. With intense competition among carriers, clients can currently get broader coverage with lower underwriting requirements at the lowest prices seen in years. This makes it an ideal time for agents to proactively round out their books of business with cyber insurance. Navigating New Market Entrants With the soft market has come an influx of new carriers. Zane advises agents to look past low prices and vet new players by examining the experience of their leadership teams. He contrasts the philosophy of using technology to replace service versus ProWriters' approach of using it to enhance the expertise of their brokers. Connect with: Zane Goldthorp LinkedIn David Carothers LinkedIn Kyle Houck LinkedIn Visit Websites: Power Producer Base Camp ProWriters Killing Commercial Crushing Content Power Producers Podcast Policytee The Dirty 130 The Extra 2 Minutes
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